Do our political "leaders" read the greats, do they read at all? To secure the blessings of our future prosperity, Europe first needs recovery. The Hayekian imperative for liberty is happily met. But Hayek's theory of saving and investment - the 'roundaboutness of production - will not save Europe, nay never could have.
In the final analysis, Keynes was right.. Preserving the Market can only be assured by guaranteeing Europe's way of life. In the Master's words,
'The reformers must believe that it is worth while to concede a great deal to preserve that decentralisation of decisions and of power which is the prime virtue of the old individualism. In a world of destroyers, they must zealously protect the variously woven fabric of society, even when this means that some abuses must be sdpared. Civilisation is a tradition from the past, a miraculous construction made by our fathers...hard to come by and easily lost....
The old guard of the Right, on their side, must surely recognise, if any reason or prudence is theirs, that the existing system is palpably disabled, that the idea of its continuing to function unmodified with half the world in dissolution is just sclerotic. Let them learn from the experience of Great Britain and of Europe that there has been a rottenness at the heart of our society, and do not let them suppose that America is healthy'.
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